Introduction

The Airtel Online Store is live for more than 2 weeks now and the buzz for getting an iPhone for Rs.7777* is very loud. The Airtel Online Store gives us a unique chance to buy an iPhone not just on credit but also with a fixed EMI of Rs.2499. The easiest any website comes close in terms of quick approval of credit and minimal documentation is Loan Singh.

We have covered almost all aspects of the Airtel Online Store – from the store overview to features such as Airtel Secure and Family Member plan. Today though, we will look at who are the individuals who can buy an iPhone from the Airtel’s Online Store. The Airtel Online Store takes ‘Online Purchase’ to the next level. Here you don’t have to think about having cash in hand to initiate a COD transaction or a credit card with an EMI option. You can now own an iPhone by paying a down payment of Rs.7777* and providing your Aadhaar Number and PAN as the only requirements. Before we get into more on that, let’s learn more about the Airtel Online Store.

The Launch

On October 16th, Indian telecom giant, Bharti Airtel launched its Airtel Online Store to offer premium range smartphones with affordable down payment options. The smartphones are also bundled with Airtel’s postpaid plan and other features. The Online Store is part of Airtel’s ‘Project Next’ – Airtel’s digital innovation programme that is aimed at transforming customer experience across all its services and touch points. The project will further see an investment of up to Rs.2,000 Crore over the next 3 years purposed with the launch of several exciting digital innovations.

On the announcement of the Online Store, Harmeen Mehta, Global CIO and Director (Engineering), Bharti Airtel had the following to say, “Imagine getting your dream device, instant credit to purchase it and a great plan to go with it, all available in one place with a few clicks. All this is a product of some cutting-edge digital engineering by the in-house teams at Airtel. We would also like to thank our partners for integrating their APIs seamlessly with our platform to enable a great customer experience.”

The launch of the Online Store has required multiple brands working in partnership with Airtel, to provide an easy and hassle free online experience – wherein the customer is not just adding the smartphone in his cart, but buying it with instant credit verification and door-step delivery. This is a pioneering step that amalgamates e-commerce and online financing.

Airtel’s Partners…

Airtel has partnered with Apple, HDFC Bank, Clix Capital, Seynse Technologies (developers of Loan Singh), Brightstar Telecommunications and Vulcan Express, to enable its Online Store. The Online Store is currently set to serve customers in 21 cities across India; further expanding to other cities and towns in due time.

Goa based Seynse Technologies Pvt. Ltd. prides in being associated with Airtel for Airtel’s Online Store. Earlier this year, Bharti Airtel had acquired a strategic stake in Seynse, as well.

Role of Seynse

The role of Seynse, in the partnership, has been that of an enabler of technology and credit underwriting

Credit Underwriting

Credit underwriting, in simple terms, is the process of determining if the customer is eligible to avail credit; based on his/her financials & other relevant criteria. The customer’s Aadhar and Seynse’ proprietary credit algorithms help to assess creditworthiness in the Online Store.

L-a-a-S (Loan-as-a-Service)

Seynse has created a platform to provide complete digital loan lifecycle – from application to disbursement, including EMI re-payment and managing fund flow. Seamless integration between participating entities makes the entire system sustainable and scalable to the entire Indian population.

Eligibility to buy an iPhone for Rs.7777*

The foremost criteria to buy an iPhone from the Airtel Online Store includes being an Indian. Your Aadhaar card will obviously verify of that, also verifying, your address and contact details. You need to provide your PAN number which will indicate your financials towards salary or prior credit obligations. It is obvious that in India you cannot avail of credit without having your past repayment or credit history being checked. Before planning to buy the iPhone from the Airtel’s Online Store, you need to make efforts from your end to be credit worthy. Being a responsible individual will make it easier for you to get the iPhone from the Airtel Online Store. The following pointers can help you to not just get an iPhone for an easy EMI of Rs.2499 but also improve your credit repayment history.

Late repayments – Ensure that you have re-paid any past EMIs or bill statements on time. Also ensure that once you get the iPhone, you are prompt in the EMI repayments of Rs.2499. The amount may not look that big if you are salaried, bad habits like procrastination creep in and not just affect your credit score but also affect your standing with Airtel.

Maxing out your card limit – Ensure you have kept your credit card spending at a low. Despite getting the iPhone, some of you must be already using credit cards, so aim at spending only up to 40% of your limit. Don’t try to apply for a 2ndcredit card if you are struggling with the first card itself or struggling to repay the EMI for the iPhone.

Healthy mix of credit – Also ensure that you have a good mix of credit, i.e. a mix of personal loan, secured loan and credit cards. You already will have the EMI of Rs.2499 cycling, so it is important to manage other credit in case your salary allows you that luxury.

Avoid credit frenzy – Do not apply for fresh credit, at multiple institutions, within a short span of time. Too many inquiries, in a short span of time, will indicate desperation for credit and will affect your credit score. You have an EMI of Rs.2499 to pay each month to stick with it and be prompt with it unlike going to various credit institutions for multiple credit in a short span of time.

Check for errors – Apply for your credit report and look at any errors on it. Try to rectify the errors so that you have a clean credit report. Making prompt EMI repayments of Rs.2499 for the iPhone will improve your credit score even better.

Features of the Airtel Online Store

Airtel is currently offering the iPhone 7 and iPhone 7 Plus handsets through its Online Store. Some features of the Airtel Online Store are

iPhone 7 32GB variant is available at a down payment of just Rs. 7777

Easy EMI of Rs.2499 (inclusive of Airtel’s Postpaid Plan)

iPhone 7 Plus 32GB variant is available for EMI of Rs. 17300

Completely online process

Minimal documentation

Instant credit approval

Up to 6 vibrant colours to choose from

The EMI of Rs.2499 also includes network services, such as

30 GB of Airtel’s monthly data plan

Unlimited calling (local, STD, national roaming)

Airtel Secure package (cover on smartphone for any physical damage, and cyber protection)

How to get an iPhone 7 for just Rs. 7777?

This takes you to the Airtel Online Store Home Page, where the attractive iPhone 7 greets you. Start the easy process of buying it by clicking on GET IT NOW

Step 2

Clicking on GET IT NOW takes you to the Product Listing Page. Here, you tell Airtel which of the 4 awesome variants you want to SELECT. Do remember that the down payment varies on each variant. But, EMI and TENURE are fixed

Step 3

Once you select the iPhone variant, you reach the Product Description Page. Then choose between multiple colors and storage space. Also check if Airtel can deliver it to you via your PINCODE. Then click on the BUY NOW button

Step 4

You then reach the Mobile OTP Page. Airtel needs to know which is your primary contact number and if you are not a ROBOT. Apply the OTP here which you receive on your entered mobile number.

Next, tell Airtel which number you would use for your iPhone via Mobile Number Validation. You could be an Airtel user, new to Airtel or from any other provider.

Step 7

Checkout Page is where you provide Airtel with your PAN, which will show Airtel if you are worthy to avail the iPhone on easy EMIs, or not.

Step 8 The final step is the paying of down payment. After choosing your variant, and providing Airtel your personal information, pay the down payment either by Netbanking or Card.

Step 9

Voila! The iPhone is yours! That’s it! In few clicks, you have bought yourself the iPhone you always dreamed of. Keep an eye on your email or SMS to know how soon it will be delivered to your doorstep.

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I tried purchasing iPhone online and the loan approval failed telling that Lender didn’t approve your loan. My cibl score is 840 plus and I have an impeccable record of taking and repaying loans. Public and Private sector banks have given me loans recently for many lakhs of rupees. However, the underwriting on airtel store rejected by loan application. I can only say that Airtel has partnered with some lousy underwriting agency due to which is creating customer dissatisfaction and loyalty. I have raised a complaint with Airtel but didn’t get any response so far. Just to check the issue, my colleague tried to apply and he also got rejection. If it continues like this, it is neither good for Airtel or Apple.

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